date:Oct 23, 2012
procure 30 per cent of their purchases from smaller Indian players at any point during the five-year period.
However, no yearly procurement has been made mandatory to the extent of 30 per cent from April 1 of the first year of commencement of the business. If global retailers outsource 100 per cent of the procurement in the first four years, they will outsource the cheapest goods from anywhere across the globe and flood the Indian market with such products, he explained.
This will create an u